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BERLIN -- Germany persuaded China to
make concessions on its proposed quotas to encourage the
production of electric vehicles, Chinese Premier Li Keqiang and
Chancellor Angela Merkel said after talks in Berlin on Thursday. Li told a joint news conference he had discussed the issue
at a dinner in Berlin on Wednesday and China had agreed to make
concessions to automakers, without giving details.
its Chinese joint venture partner BAIC Motor Corp.
agreed to upgrade the Mercedes-Benz factory in Beijing
to make electric cars. Daimler also agreed to acquire a minority stake in Beijing
Electric Vehicle Co., a subsidiary of the BAIC
Group, to enhance collaboration on developing so-called new
SHANGHAI -- Four years after China's President Xi Jinping started cracking down on corruption and conspicuous consumption, the most extravagant fast cars are making a comeback. Chinese sales at Ferrari and Aston Martin are approaching their 2013 peaks, following tumbles of as much as 20 percent in 2014, according to data compiled by Bloomberg Intelligence.
SAIC Motor Corp., China's biggest automaker, has delayed plans to export vehicles to the United States because of uncertainties about President Donald Trump's trade policies, even as another state-owned rival stays on track to enter the market.